29 APRIL 2016 – The six-month journey for all the Customer Owned Banking Associations (COBA) members has come to an end. This exciting experience resulted in fantastic prototypes for the banking industry and a great way to bring a change in culture and collaboration.
The Project COBA -Innovation Incubator-
The project started as an “Innovation Incubator” and was organised in three stages:
Stage 1: Ideation Day, when teams formed ideas
Stage 2: Innovation Incubator – Pitch Day -, when teams presented ideas
Stage 3: Showcase Day, when teams presented prototypes, culminating on the 25th February 2016.
These prototypes are now ready for development thanks to the hard work of all the participants, the guidance of business mentors, and the support of COBA members with their generous donations of time, funds and people.
“Without questions, just go and do it. If you like thinking outside the box, get to create your own box!” said Mathew Khoury, teachers’ Mutual Bank (bare) and contributor of the event.
The sentence reflects the spirit of the project which received positive feedback from almost all the attendees.
As Mark Degotardi, the CEO of COBA, stated at the beginning of the video: “We can actually do something here together”. Ideas are captured and analysed in detail, transformed step by step into something real, and evolve into viable solutions to improve banking and financial processes.
The events took place in Lakeba offices, we are proud of having so many brilliant minds under our roof; we are grateful to be engaged witnesses of the creativity process that brings COBA to increase innovation, proactivity and enhance their industry.
It was a wonderful achievement for all industries involved and Lakeba looks forward to working with COBA and its members again to commercialise the prototypes presented during the event.
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About Lakeba Group
Lakeba Group is a privately held global venture catalyst firm. It accelerates technology ventures which eliminate the frictions caused by analogue transactions across retail, finance, property and technology. Engaging the intelligence of the masses, the global capacity and distribution of its partners and the proven skill and experience of its team to convert industry needs into commercially successful businesses. Since its launch in 2013, Lakeba Group has conceived, created and commercialised 13 ventures across its MachineIQ and FinanceIQ portfolios. It has 150 full-time staff across its headquarters in Australia and offices in India, Italy and soon the US.